Volkmann Jewelers (once H.E. Volkmann & Sons)
appears to be still an active business in Kankakee
Illinois, as marked on the case of your watch. It's
probably not a very old watch, and unlikely to have
a Swedish connection, although a re-case is a possibility.
If you'll post a clear close-up (macro) picture of the
movement (works) inside, someone will probably
be able to help identify it further.